AIAE identifies signposts to economic transformation

African Institute for Applied Economics (AIAE), has identified major economic fundamentals such as improved business environment, quality service delivery in the public service and fiscal consolidation as the major signposts of economic transformation.This was revealed at the Roundtable on Economic Transformation Process held in Abuja recently.While welcoming participants to the event, the Executive Director of the Institute, Professor Eric Eboh, noted that fiscal consolidation would entail prudent management of public spending by the three tiers of government and improving the business environment, particularly power and transportation.The policy analyst added that unlocking the business environment for non-oil growth will not happen without significant reforms of infrastructure and regulatory systems, saying: 'achieving better service delivery is fundamentally linked to public service and institutional reforms that are designed to deliver improved public service performance, effectiveness and efficiency.'The Special Adviser to the President on Performance Monitoring and Evaluation, Professor Sylvester Monye, said performance is the bottom-line of the people's expectation of government. He added that his office is developing simple and straightforward measures to assess whether the outcomes expected of the government agencies are being realised.Other speakers at the conference called for holistic approach to the transformation process. They said for Nigeria, this is a period of change, re-engineering, restructuring, re-organisation, reworking and transformation. They urged the government to introduce performance contract which clearly specifies the intentions, obligations and responsibilities of the government and the workers. Performance contract is freely negotiated performance agreement between the government, acting as the agency, and the management of the agency.Eminent personalities who spoke at the occasion included; Chief Economic Adviser to the President,Dr. Okedigbe Nwanze, Director General of Budget Office of the Federation, Dr. Bright Okogu, Director General of the Bureau of Private Enterprises (BPE), Ms Bolanle Onangoruwa, Director General of the West Africa Institute for Financial and Economic Management (WAIFEM), Professor Akpan Ekpo, representatives of the Head of Service of the Federation and the Minister of Trade and Investment, Dr. Chinedum Nwoko-a fiscal policy analyst and Mr Peter Oyeneye ' public policy analyst.
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